ITAT upheld Section 147 reopening as AO had tangible material in his possession

Lakshman Tools Pvt. Ltd. Vs ITO (ITAT Delhi)

Introduction: The case of Lakshman Tools Pvt. Ltd. vs. ITO (ITAT Delhi) revolves around the application of Section 147 of the Income Tax Act. In this article, we will analyze the key aspects of this case, including the validity of the Section 147 application, non-genuine purchases, and commission payments.

1. Section 147 Application Validity: The case begins with the validity of the Assessing Officer’s (AO

Please become a Premium member. If you are already a Premium member, login here to access the full content.